Apogee Enterprises (NASDAQ:APOG) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other research firms have also weighed in on APOG. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. ValuEngine lowered shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Apogee Enterprises presently has an average rating of “Hold” and an average price target of $61.00.
Apogee Enterprises (NASDAQ APOG) opened at $43.03 on Wednesday. Apogee Enterprises has a 12 month low of $40.03 and a 12 month high of $61.00. The stock has a market capitalization of $1,220.00, a PE ratio of 15.48, a PEG ratio of 1.45 and a beta of 1.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.79.
Apogee Enterprises announced that its board has authorized a share buyback program on Tuesday, January 9th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Sara L. Hays sold 2,229 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $45.46, for a total transaction of $101,330.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Apogee Enterprises by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,338,196 shares of the industrial products company’s stock worth $64,581,000 after purchasing an additional 22,442 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in Apogee Enterprises by 346.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,058,950 shares of the industrial products company’s stock worth $48,426,000 after buying an additional 821,580 shares during the period. Royce & Associates LP lifted its holdings in Apogee Enterprises by 12.1% in the fourth quarter. Royce & Associates LP now owns 849,898 shares of the industrial products company’s stock worth $38,866,000 after buying an additional 91,820 shares during the period. Virtus Fund Advisers LLC lifted its holdings in Apogee Enterprises by 12.2% in the fourth quarter. Virtus Fund Advisers LLC now owns 819,818 shares of the industrial products company’s stock worth $37,490,000 after buying an additional 88,995 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in Apogee Enterprises by 16.5% in the fourth quarter. Glenmede Trust Co. NA now owns 811,253 shares of the industrial products company’s stock worth $37,096,000 after buying an additional 114,840 shares during the period. Institutional investors own 99.59% of the company’s stock.
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Apogee Enterprises Company Profile
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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